The staycation craze:
why landlords are so keen An increasing interest in staycations has brought about the rediscovery of Britain’s hidden gemstone locations with fresh, eager eyes. Here’s how property owners are making the most of UK holiday-lets WORDS BY KERRY SMITH
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ince the onset of coronavirus, landlords and tenants alike have been searching for new ways to escape, bearing in mind the restrictions to travelling abroad. A staycation refers to a holiday in the UK – the perfect treat for those wanting to explore someplace new, whilst escaping the daily commotions of city life. Not only has this been extremely beneficial for the general health and wellbeing of individuals and families, but it’s proven to be particularly lucrative for landlords who have started letting their properties out through the increasingly popular short-term letting model. Sophie Jones, managing director at We Stay, commented: “Property owners have begun to realise they can make up to 50% more revenue through short-term lets over long-lets.” We Stay is a local company with national reach, providing tailored serviced accommodation packages and management services for landlords and staycation-seekers. The company was founded and co-founded by property specialist Ben Vale, who has over 20 years of experience working in the sector, along with Sophie and Roger Lanza. Sophie added: “We Stay
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provides the ideal home away from home, accommodating both short-term and mid-term stays, inclusive of luxury amenities, ensuring guests are well looked after. “The staycation boom we’re in right now is extraordinary. Attitudes have completely changed towards holidaying in the UK and I think that’s set to stay. We’ve got a beautiful country on our doorstep. Whether it’s the countryside, the coast, or a bustling city you’re after, we have it all in the UK.” With headquarters in Rothley, We Stay has properties all over the UK and the team are keen on supporting all sorts of landlords, providing them with the tools to make the most out of their property. Here are some frequently asked questions:
Which properties create the best return on investments?
“Properties in charming villages, quirky city apartments, or homes by the coast attract so many people, but all properties can succeed with a personal touch.”
How can I ensure my property is looked after with short-lets? “Properties are kept to show home standards because we have to make sure they’re in
PROPERTY OWNERS HAVE BEGUN TO REALISE THEY CAN MAKE UP TO 50% MORE REVENUE THROUGH SHORT-TERM LETS OVER LONG-LETS
perfect condition to attract guests, meaning any damages and cleaning will be taken care of regularly, keeping costs down in the long run. This type of five-star guest experience also allows us to build relationships with guests, resulting in more word-of-mouth recommendations.”
How do you manage my property for holiday-lets?
While portals such as Airbnb are handy, managing it all is a full-time job. “We carry out full due diligence of the property, complete a market analysis to determine what the property can make per night and per annum, and we analyse the area and its attractions. We then get a photographer in, list it on all the portals, and take full ownership as if it were our own holiday-let – from cleaning to guest liaison to full marketing. “We’re experts in this and know all the pitfalls and how to get a property making revenue. We do all of the hard work for hassle-free hosting for our landlords.” Sophie’s last fabulous top tip for landlords: “If you want to make a return, think ‘Instagrammable equals instantly bookable.’” For more lucrative tips on how to make the most out of your property, visit westaygroup.com.
